BlackRock (NYSE:BLK) Issues Quarterly Earnings Results

BlackRock (NYSE:BLK) issued its earnings results on Thursday. The asset manager reported $10.42 EPS for the quarter, beating the consensus estimate of $10.16 by $0.26, MarketWatch Earnings reports. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.15 billion. BlackRock had a return on equity of 16.72% and a net margin of 30.97%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $10.18 EPS.

Shares of BlackRock stock traded down $18.98 on Friday, hitting $848.60. 1,239,714 shares of the company’s stock traded hands, compared to its average volume of 497,232. The stock has a market cap of $128.92 billion, a P/E ratio of 22.21, a PEG ratio of 1.76 and a beta of 1.17. The firm’s 50-day moving average is $916.55 and its 200 day moving average is $903.53. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.56. BlackRock has a 52-week low of $670.28 and a 52-week high of $973.16.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Tuesday, December 7th were issued a $4.13 dividend. The ex-dividend date was Monday, December 6th. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is 43.23%.

In other BlackRock news, CEO Laurence Fink sold 22,247 shares of the company’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $925.68, for a total transaction of $20,593,602.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 405 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $964.45, for a total transaction of $390,602.25. The disclosure for this sale can be found here. Insiders have sold 39,017 shares of company stock worth $36,055,061 over the last three months. 1.16% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,323,967 shares of the asset manager’s stock after buying an additional 23,377 shares during the quarter. Morgan Stanley owned 1.53% of BlackRock worth $2,033,403,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.94% of the company’s stock.

BLK has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on BlackRock from $1,026.00 to $1,051.00 and gave the company an “overweight” rating in a research note on Friday, January 7th. Evercore ISI restated a “buy” rating and set a $956.00 price target on shares of BlackRock in a report on Thursday, October 14th. Citigroup increased their price target on BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a report on Thursday, October 14th. Deutsche Bank Aktiengesellschaft reduced their target price on BlackRock from $1,141.00 to $1,123.00 in a research note on Thursday. Finally, Bank of America initiated coverage on BlackRock in a research note on Thursday, December 16th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $987.71.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Earnings History for BlackRock (NYSE:BLK)

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